Oklahoma Senate Bill SB282

Oklahoma 2023 Regular Session

• Introduced: 2/6/23
• Refer: 2/7/23

Caption

Oklahoma Public Employees Retirement System; decreasing separation period for a retired member to return to work for former employer. Effective date.

Impact

If enacted, SB282 would significantly alter the reemployment landscape for retirees of the Oklahoma Public Employees Retirement System by allowing them to return to work sooner. This could have positive implications for workforce participation, especially in public sectors that depend on the expertise of retired employees. Moreover, it would enable retired members to make a smoother transition back into their roles, potentially leading to enhanced service delivery and stability in public operations.

Summary

Senate Bill 282 (SB282) proposes amendments to the Oklahoma Public Employees Retirement System, specifically to the provisions related to the separation period required for retired members wishing to return to work with their former employer. The bill seeks to decrease this waiting period from one year to six months, thereby allowing retirees to resume employment more quickly. This change is expected to benefit the retired members who wish to reintegrate into the workforce after retirement and address staffing shortages that may arise in public sectors due to retirements.

Contention

The bill has generated discussions regarding the balance between incentivizing retired employees to return to work and the implications for pension systems. Some stakeholders argue that reducing the separation period may lead to increased costs or affect the financial balance of the retirement system. Others posit that by allowing quicker reemployment opportunities, the bill can support the workforce more effectively and leverage the experience of retirees, mitigating skill gaps present in public institutions.